Retail Cloud Market Size

Statistics for the 2023 & 2024 Retail Cloud market size, created by Mordor Intelligence™ Industry Reports. Retail Cloud size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Retail Cloud Industry

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Retail Cloud Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 46.98 Billion
Market Size (2029) USD 127.69 Billion
CAGR (2024 - 2029) 22.14 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Retail Cloud Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Retail Cloud Market Analysis

The Retail Cloud Market size is estimated at USD 46.98 billion in 2024, and is expected to reach USD 127.69 billion by 2029, growing at a CAGR of 22.14% during the forecast period (2024-2029).

The rise of e-commerce has set the standards for brick-and-mortar retail in recent years. Although shoppers complete most transactions in brick-and-mortar stores, customers have grown to expect the same personalized, relevant, convenient, and easy-to-use experiences they encounter online when they shop in-store, driving the retail cloud market significantly.

  • To be successful today, retailers must optimize their businesses across all channels and continually meet and exceed consumer expectations. But most retailers with multiple channels in the current market still need help to provide a consistent experience across channels. As a result, consumers experience a different level of personalization than they do experience on online shopping sites. But in the case of a cloud solution or cloud platforms, it enables retailers to handle all problems that arise from implementing, maintaining, and interfacing disparate systems. This is where retailers are increasingly adopting digital solutions that are highly personalizing customer experiences. Thus, digital transformation amongst retailers is gaining traction, and retailers are emphasizing increasing their IT spending.
  • Moreover, digital demographics in the retail industry are increasingly becoming essential to understand consumers. Moreover, with the rise in the adoption of omnichannel services, retailers worldwide are focusing extensively on offering customization, which will fuel the market's growth throughout the forecast period.
  • Also, in terms of cloud deployment, a hybrid cloud is gaining traction amongst retailers owing to its benefits. In November last year, Computop introduced Cloud POS Interface for stores with multiple locations. The Cloud POS Interface would allow retailers to operate card terminals from any web-based ERP, store, or POS system through the Computop Paygate. Since it enables retailers to connect to POS terminals via the cloud, the system eliminates the overall need for the ZVT/OPI interface in the cash register to facilitate card payments. Another functionality of Cloud POS is enabling its terminals to be operated via a SIM card. If there's an instance when an airport is not connected to Cloud POS through a LAN or WiFi connection, retailers can utilize a SIM card to connect to the cashier system.
  • However, the rise in vulnerability from cyber-attacks could be one of the most prominent reasons hindering the market's growth throughout the forecast period.
  • The spread of Covid-19 has significantly impacted consumer behavior, product demand, and retail store, factory, and logistics services functioning. However, the impact on the retail cloud is uneven, depending on the market from various industries. For instance, low demand has hit the electronics and fashion industries hard. In contrast, food, household goods, and pharmaceuticals have seen a drastic shift in direction and thus are looking for Omni channel presence, further boosting the demand for retail cloud. The market is expected to prosper at a high rate during the forecast period due to its offered benefits compared to traditional retail.

Retail Cloud Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)